Wade G W & Inc. increased its position in shares of General Mills, Inc. (NYSE:GIS) by 41.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,118 shares of the company’s stock after purchasing an additional 4,120 shares during the quarter. Wade G W & Inc.’s holdings in General Mills were worth $871,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. Creative Financial Designs Inc. ADV raised its holdings in General Mills by 94.8% during the third quarter. Creative Financial Designs Inc. ADV now owns 487 shares of the company’s stock worth $30,000 after purchasing an additional 237 shares during the last quarter. San Francisco Sentry Investment Group CA raised its holdings in General Mills by 150.5% during the second quarter. San Francisco Sentry Investment Group CA now owns 496 shares of the company’s stock worth $31,000 after purchasing an additional 298 shares during the last quarter. Watson Rebecca acquired a new position in General Mills during the second quarter worth $33,000. Rosenberg Matthew Hamilton acquired a new position in General Mills during the second quarter worth $36,000. Finally, TCTC Holdings LLC acquired a new position in General Mills during the second quarter worth $37,000. 72.40% of the stock is owned by hedge funds and other institutional investors.
Shares of General Mills stock opened at $61.21 on Tuesday. General Mills, Inc. has a twelve month low of $46.59 and a twelve month high of $66.14. The stock has a market capitalization of $37.42 billion, a P/E ratio of 16.37, a PEG ratio of 2.24 and a beta of 0.61. The company has a current ratio of 0.70, a quick ratio of 0.49 and a debt-to-equity ratio of 1.24. The business’s fifty day moving average price is $61.09 and its 200 day moving average price is $61.66.
General Mills (NYSE:GIS) last issued its earnings results on Wednesday, September 23rd. The company reported $1.00 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.13. General Mills had a return on equity of 28.46% and a net margin of 12.78%. The firm had revenue of $4.36 billion for the quarter, compared to analysts’ expectations of $4.21 billion. During the same quarter last year, the firm earned $0.79 earnings per share. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, sell-side analysts predict that General Mills, Inc. will post 3.6 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 1st. Shareholders of record on Friday, January 8th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date is Thursday, January 7th. General Mills’s dividend payout ratio is presently 56.51%.
In other General Mills news, insider Sean N. Walker sold 9,062 shares of the business’s stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $61.59, for a total transaction of $558,128.58. Following the transaction, the insider now owns 66,793 shares in the company, valued at $4,113,780.87. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Shawn P. Ogrady sold 6,310 shares of the business’s stock in a transaction dated Thursday, October 22nd. The stock was sold at an average price of $60.77, for a total value of $383,458.70. Following the transaction, the insider now owns 129,257 shares in the company, valued at approximately $7,854,947.89. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,159 shares of company stock worth $1,606,498. 0.51% of the stock is currently owned by insiders.
Several brokerages recently issued reports on GIS. BMO Capital Markets reaffirmed a “hold” rating on shares of General Mills in a report on Thursday, September 24th. Zacks Investment Research downgraded General Mills from a “buy” rating to a “hold” rating and set a $62.00 price target for the company. in a research report on Monday, November 2nd. Credit Suisse Group raised General Mills from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $65.00 to $67.00 in a research report on Friday, September 25th. Piper Sandler raised their price target on General Mills from $71.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, September 24th. Finally, CSFB raised General Mills to an “outperform” rating and set a $67.00 price target for the company in a research report on Friday, September 25th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $63.39.
General Mills Profile
General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, snack bars, fruit snacks, nutrition bars, and savory snacks, as well as organic products, including refrigerated yogurt, frozen and shelf-stable vegetables, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.
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